Stocks Mixed as Delta Strain Unnerves Investors

Stocks were mixed and U.S. futures fluctuated on Tuesday amid concerns a more infectious Covid-19 strain will derail the economic recovery. Treasuries and the dollar steadied after gains. The Stoxx Europe 600 Index opened 0.4% higher, though new limits on travel from Britain dragged on cruise operators and airlines. An MSCI index of Asia-Pacific shares was on track for its first decline in six days as countries in the region struggle to contain the highly transmissible Delta variant of the virus.

S&P 500 futures were little changed after technology stocks led U.S. benchmarks to fresh records Monday in a resurgence of the stay-at-home trade. The Treasury yield curve flattened amid month-end index rebalancing and the break in auctions until July 12, reducing supply. Oil slipped and gold headed for the biggest monthly drop in more than four years.

Stocks

The Stoxx Europe 600 rose 0.4% as of 8:18 a.m. London timeFutures on the S&P 500 were little changedFutures on the Nasdaq 100 fell 0.1%Futures on the Dow Jones Industrial Average rose 0.2%The MSCI Asia Pacific Index fell 0.6%The MSCI Emerging Markets Index fell 0.4%

Currencies

The Bloomberg Dollar Spot Index was little changedThe euro fell 0.1% to $1.1911The Japanese yen was little changed at 110.67 per dollarThe offshore yuan was unchanged at 6.4630 per dollarThe British pound fell 0.1% to $1.3863

Bonds

The yield on 10-year Treasuries was little changed at 1.48%Germany’s 10-year yield was little changed at -0.19%Britain’s 10-year yield advanced two basis points to 0.74%

Commodities

Brent crude fell 0.1% to $74.60 a barrelSpot gold fell 0.2% to $1,774.83 an ounce

Stocks Mixed as Delta Strain Unnerves Investors: Markets Wrap, Bloomberg, Jun 29